Rupee edges higher against US dollar

At 3.22pm, the rupee was trading at 74.19 a dollar, up 0.26% from its Tuesday’s close of 74.39.

So far this year, the rupee has declined 14%, while foreign investors have sold $3.58 billion and $7.55 billion in the equity and debt markets, respectively. Photo: HT

Mumbai: The Indian rupee on Wednesday strengthened marginally against the US dollar, tracking gains in Asian peers. At 3.22pm, the rupee was trading at 74.19 a dollar, up 0.26% from its Tuesday’s close of 74.39. The currency opened at 74.13 a dollar. The 10-year gilt yield stood at 8.049%, up from its previous close of 8.076%. Bond yields and prices move in opposite directions.

The benchmark Sensex rose 0.40% to 34,437.11 points. Year to date, it has gained 1%.

So far this year, the rupee has declined 14%, while foreign investors have sold $3.58 billion and $7.55 billion in the equity and debt markets, respectively.